iCharts Discussions

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (07/04/15) and beyond

Supports are at about 8633, 8599, 8539 and 8523 while resistances are at about 8694, 8715, 8728 and 8747. Three +WWs can give about 8805 (if above 8516), 8890 (if above 8534) and 9045 (if above 8451) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8393 (once below 8552) and 8363 (if below 8486) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8755 if nifty sustains above 8535.

Nifty rose sharply again and closed above 8650. Bearish tone will continue since monthly candle is bearish engulfing with -ve div. Also, a mild bearish div is developing and we may see a reaction soon. Nifty remains in a "sell on rise" mode unless it closes above 8776 to begin with. Breaking and sustaining below 8539 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as Tuesday is RBI policy review day and since vix can be high in view of a long expiry.

[vinay28]

NF levels as of 07/04.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (08/04/15) and beyond

Supports are at about 8646, 8626, 8600, 8540 and 8523 while resistances are at about 8667, 8707 and 8754. 50 dma is at about 8722. Two +WWs can give about 8850 (if above 8532) and 9051 (if above 8435) (+WWs with higher targets are not mentioned as of now). Four -WWs can give about 8593 (once below 8646), 8572 (if below 8655), 8535 (if below 8639) and 8344 (if below 8625) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8880 if nifty sustains above 8680.

Nifty rose sharply after a sudden fall and closed above 8650. Bearish tone continues since monthly candle is bearish engulfing with -ve div. Also, daily candle is a hanging man and the mild bearish div is becoming stronger. Hence we may see a reaction soon. Nifty remains in a "sell on rise" mode unless it closes above 8776 to begin with. A close below 8633 can start a fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix can go up in view of a long expiry.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (09/04/15) and beyond

Supports are at about 8708, 8685, 8666, 8657 and 8523 while resistances are at about 8737, 8747 and 8759. 50 dma is at about 8719. Two +WWs can give about 8905 (if above 8529) and 9065 (if above 8422) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8683 (if below 8744), 8668 (if below 8737) and 8574 (if below 8714) (-WWs with lower targets are not mentioned as of now). An IHnS can give about 8880 if nifty sustains above 8680.

Nifty rose again and closed above 8700. Bearish tone continues since monthly candle is bearish engulfing with -ve div. Also, daily candle is a likely evening star and the bearish div is becoming stronger. A -ve close, particularly with a gap down open can confirm it. We may see a reversal soon unless 8892 is taken out quickly. Wednesday was a NR7 day and we may see a big move on Thursday. Nifty remains in a "sell on rise" mode unless it closes above 8776 to begin with. A close below 8633 can start a fall but sustaining below 8550 can be very bad. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix can go up in view of a long expiry.

[aviator61]

Vinay Sir,

One doubt please.

You've said, "Also, daily candle is a likely evening star and the bearish div is becoming stronger."

The Bearish Divergence is with respect to which indicator on the Daily chart?

Regards.

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (10/04/15) and beyond

Supports are at about 8747, 8712, 8668 and 8645 while resistances are at about 8816, 8852 and 8978. 50 dma is at about 8719. Two +WWs can give about 8913 and 9075 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8670 (if below 8762), 8641 (if below 8781) and 8571 (if below 8725) (-WWs with lower targets are not mentioned as of now).

Nifty rose again and closed above 8750. Bearish tone continues since monthly candle is bearish engulfing with -ve div. Daily candle is a hanging man but the bearish div is becoming stronger. We may see a reversal soon unless 8892 is taken quickly out to begin with. A close below about 8700 on Friday will give an inverted hammer on weekly chart. Sustaining below 8550 can be very bad. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix can go up in view of a long expiry.

[amitagg]

[vinay28]

[vinay28]

Updated NF levels as of 10/04.

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty POST for Monday (13/04/15) and beyond

Supports are at about 8767, 8746, 8713, 8666 and 8626 while resistances are at about 8801, 8821, 8856 and 8984. 50 dma is at about 8716. Two +WWs can give about 8923 and 9085 (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 8639 (if below 8812), 8564 (if below 8740) and 8520 (if below 8785) (-WWs with lower targets are not mentioned as of now).

Nifty remained range bound and seemed to pause before closing flat but above 8750. Bearish tone continues since monthly candle is bearish engulfing with -ve div. Daily candle is a hanging man again but the bearish div is becoming stronger. We may see a reversal soon unless 8892 is taken out quickly to begin with. A close below about 8660 will mean more fall. Global and local eco-political events can have a bearing on how nifty moves in short term. Trade carefully as vix can go up in view of a long expiry as also because next week is truncated.

[chandrujimrc]

Further to my previous post mkt is marching towards EOD +WW tgt and also to form the lower top either at 8800 or at 8930.After breaking previous swing low of 8470 mkt has formed the lower bottom at 8269,now retracing to form the lower top and also the shoulder of H&S pattern.So mkt is in bear trend,any time it will revert back to test and break 200Ema.These are all just my assumption only.Any thing may happen in the mkt. Good luck.

Dear Vinay I am expecting your view.

[chandrujimrc]

Nifty fibo lvls

High Low Diff
9119 8269 850.00

Ratio Value
2.618 10494.30
2.236 10169.60
1.618 9644.30
1.236 9319.60
0.786 8937.10
0.618 8794.30
0.5 8694.00
0.382 8593.70
0.236 8469.60
-0.236 8068.40
-0.382 7944.30
-0.5 7844.00
-0.618 7743.70
-0.786 7600.90
-1.236 7218.40
-1.618 6893.70
-2.236 6368.40
-2.618 6043.70

[vinay28]